It'd be cool if the M Fame was fully back into the fold. There are many products whose design, functionality and aesthetic can stand the test of time with minimal updates through the decades. Rolex with pretty much most its lineup, RB with its aviators and Wayfarers, Audemars Piguet with its Royal Oak, etc. are examples. The M Frame would be Oakley's signature iconic piece, recognizable and loved even 50 years down the line.
To be honest, I was surprised when the Pro M finally faded away. It had been the longest unchanged model since most like the Eye Jackets had generational changes at the least. It almost felt obligatory since Oakley didn't want to continue something that seemed old.